BREAKING: 10 Billion USDT Just Minted

IconCryptoNewsTerminal Staff15 Jun, 2024

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BREAKING: 10 Billion USDT Just Minted

Tether, the company behind the popular stablecoin USDT, has just minted 10 billion new tokens. This is according to a report from Whale Alert, a blockchain tracking service. The newly minted USDT was sent to a single address, which is likely controlled by Tether. The address has been previously used to receive large amounts of USDT from the Tether Treasury. 10 billion is the single largest issuance of USDT ever and is sure to have a significant impact on the cryptocurrency market. The issuance will likely increase the supply of USDT, which could lead to a decrease in its price. It could also lead to increased demand for other stablecoins, such as USDC and BUSD. The reasons for the issuance are unclear, but it is likely that Tether is responding to the recent surge in demand for USDT. The stablecoin has become increasingly popular as a way to store value and trade cryptocurrencies. The issuance of 10 billion USDT is a major event in the cryptocurrency market. It will be interesting to see how the market reacts to this news.

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